Based on data published by Statistics South Africa, building activity in the South African market for new private sector-financed housing remained under pressure in the first five months of 2016, with much subdued year-on-year growth in activity levels in May this year.
The planning phase contracted in the five months up to May, whereas the construction phase showed some relatively low single-digit growth over this period.
Against the background of trends in and the outlook for the economy, household finances and consumer and building confidence, residential building activity is to remain relatively subdued in the rest of the year.
Read more here: Absa Building stats May 2016
